1
00:00:02,520 --> 00:00:18,360
Speaker 1: Bloomberg Audio Studios, podcasts, radio news.

2
00:00:19,000 --> 00:00:22,760
Speaker 2: What happens when the best business decision you can make

3
00:00:23,480 --> 00:00:27,400
Speaker 2: is to change businesses. What's the best way to redeploy

4
00:00:27,480 --> 00:00:31,840
Speaker 2: your skill sets in the modern age of artificial intelligence

5
00:00:32,320 --> 00:00:36,320
Speaker 2: and changing business models. I'm Barry Dhelts and on today's

6
00:00:36,440 --> 00:00:39,840
Speaker 2: edition of At the Money, we're going to discuss how

7
00:00:39,880 --> 00:00:45,040
Speaker 2: to manage your way through the challenges of technology driven change.

8
00:00:45,680 --> 00:00:47,640
Speaker 2: To help us unpack all of this and what it

9
00:00:47,680 --> 00:00:52,440
Speaker 2: means for your career, let's bring in veteran markets journalists

10
00:00:52,600 --> 00:00:56,760
Speaker 2: and CFA Sam Row. Sam is known for his clear,

11
00:00:57,000 --> 00:01:00,560
Speaker 2: data driven insights into markets and the economy. He spent

12
00:01:00,720 --> 00:01:06,040
Speaker 2: two decades working in the trenches for shops such as Forbes, Yahoo, Finance,

13
00:01:06,240 --> 00:01:11,160
Speaker 2: Business Insider, and Axios. He launched his own substack three

14
00:01:11,280 --> 00:01:15,959
Speaker 2: years ago ticker Tker, which earned him the Society of

15
00:01:16,080 --> 00:01:20,640
Speaker 2: Business and Editor and Writers Award for Best in Business

16
00:01:20,680 --> 00:01:24,200
Speaker 2: in twenty twenty two. So let's start with your background.

17
00:01:24,600 --> 00:01:29,240
Speaker 2: You earn a certified financial analyst, but you became a

18
00:01:29,280 --> 00:01:33,360
Speaker 2: financial journalist. Explain that initial career choice.

19
00:01:33,440 --> 00:01:36,800
Speaker 3: Yeah, Well, the initial plan actually was to figure out

20
00:01:36,800 --> 00:01:40,480
Speaker 3: a way to get into Wall Street. You know, if

21
00:01:40,520 --> 00:01:44,840
Speaker 3: we go even further back, I was working as a

22
00:01:44,880 --> 00:01:50,200
Speaker 3: contractor for a law firm that for whatever reason, got

23
00:01:50,200 --> 00:01:53,400
Speaker 3: me exposure to equity research for the first time. And

24
00:01:53,440 --> 00:01:55,800
Speaker 3: this is the first time I started to realize that

25
00:01:56,000 --> 00:02:00,200
Speaker 3: how asset valuation worked. And it's not just math than

26
00:02:00,240 --> 00:02:04,440
Speaker 3: spreadsheets and you know, a hard science, you know, theoretical exercise.

27
00:02:05,280 --> 00:02:08,080
Speaker 3: There's a lot of soft sciences involved in here because

28
00:02:08,080 --> 00:02:10,840
Speaker 3: you're dealing with human behavior. So I was interested in

29
00:02:11,120 --> 00:02:14,560
Speaker 3: getting into equity research. And my first job being able

30
00:02:14,560 --> 00:02:19,560
Speaker 3: to write about stocks or markets was at Forbes in

31
00:02:19,639 --> 00:02:21,320
Speaker 3: their investment Newsletters division.

32
00:02:22,120 --> 00:02:26,160
Speaker 2: So a traditional media outlet, but a sort of non

33
00:02:26,280 --> 00:02:31,280
Speaker 2: traditional position. That's kind of been your career history. So

34
00:02:31,320 --> 00:02:36,200
Speaker 2: you go from Forbes Newsletters, Yahoo Finance, Business Insider axios.

35
00:02:36,600 --> 00:02:42,360
Speaker 2: These are all post twenty twentieth century sort of technology

36
00:02:42,400 --> 00:02:44,160
Speaker 2: based news organization.

37
00:02:44,200 --> 00:02:47,240
Speaker 3: Sure, yeah, yeah, I mean even even Forbes when I

38
00:02:47,320 --> 00:02:48,959
Speaker 3: was there, I was there from two thousand and six

39
00:02:49,000 --> 00:02:52,720
Speaker 3: to twenty ten, was by far number one in terms

40
00:02:52,760 --> 00:02:56,760
Speaker 3: of news websites. They had tons and tons and tons

41
00:02:56,800 --> 00:02:58,680
Speaker 3: of traffic going to their website because they were one

42
00:02:58,680 --> 00:03:01,639
Speaker 3: of the first new outlets to really establish themselves in

43
00:03:01,680 --> 00:03:05,240
Speaker 3: the late nineties and early two thousands, and then of

44
00:03:05,280 --> 00:03:08,240
Speaker 3: course the financial crisis comes, and you know, business media

45
00:03:08,320 --> 00:03:12,080
Speaker 3: did not do very well during that time. I eventually

46
00:03:12,120 --> 00:03:17,079
Speaker 3: get laid off in twenty ten, and I'm in between

47
00:03:17,160 --> 00:03:18,520
Speaker 3: jobs a little bit, and then I end up at

48
00:03:18,520 --> 00:03:22,000
Speaker 3: Business Insider, where the business model is just completely different.

49
00:03:23,680 --> 00:03:27,639
Speaker 3: You know what. My last day at Forbes, actually had

50
00:03:27,639 --> 00:03:31,480
Speaker 3: a talk with my boss's boss in my office. That's

51
00:03:31,560 --> 00:03:33,920
Speaker 3: what the state of things were back then. Right, that

52
00:03:34,040 --> 00:03:37,280
Speaker 3: I could actually have an office at a print magazine

53
00:03:37,760 --> 00:03:39,960
Speaker 3: in a building in Greenwich.

54
00:03:39,640 --> 00:03:41,600
Speaker 2: Village seems super inefficient.

55
00:03:42,000 --> 00:03:45,200
Speaker 3: Well, I didn't realize how inefficient that was until I

56
00:03:45,280 --> 00:03:48,320
Speaker 3: ended up that Business Insider, where on my first day

57
00:03:49,880 --> 00:03:53,160
Speaker 3: on a desk that's probably about three feet wide in

58
00:03:53,200 --> 00:03:55,680
Speaker 3: a newsroom where we're basically just sitting their shoulder to

59
00:03:55,720 --> 00:03:59,200
Speaker 3: shoulder with every other editor and journalist, including you know,

60
00:03:59,280 --> 00:04:02,960
Speaker 3: the editor chief and the CEO of the company, and

61
00:04:03,120 --> 00:04:07,840
Speaker 3: the productivity there was insane. So yeah, like in the

62
00:04:07,880 --> 00:04:10,720
Speaker 3: snap of a finger, I realize, you know, there's a

63
00:04:10,800 --> 00:04:14,160
Speaker 3: reason why we had layoffs at my previous employer.

64
00:04:14,640 --> 00:04:18,520
Speaker 2: So that took place in twenty ten. But really we've

65
00:04:18,560 --> 00:04:24,960
Speaker 2: seen technology really hurting traditional media's business model since the

66
00:04:25,040 --> 00:04:30,240
Speaker 2: nineteen nineties, So Craigslist really did a job on the

67
00:04:30,320 --> 00:04:34,720
Speaker 2: classified advertising business, which is a big driver. eBay was

68
00:04:34,760 --> 00:04:40,360
Speaker 2: another thing that took sales away from the traditional ad model.

69
00:04:40,960 --> 00:04:45,360
Speaker 2: Now it's things like Facebook, Marketplace, Zillow for real estate,

70
00:04:45,480 --> 00:04:50,839
Speaker 2: bring a trailer for automobiles. Technology has been taking big

71
00:04:50,920 --> 00:04:56,400
Speaker 2: chunks of the revenue streams from traditional media. It's now

72
00:04:56,640 --> 00:05:00,839
Speaker 2: three plus decades of this. When did you first start

73
00:05:00,920 --> 00:05:06,160
Speaker 2: to realize, hey, this entire underlying business model is under assault.

74
00:05:07,240 --> 00:05:11,599
Speaker 3: I think it was probably late in my business inside

75
00:05:11,600 --> 00:05:15,320
Speaker 3: our days and early in my Yahoo Finance days, where

76
00:05:16,600 --> 00:05:20,320
Speaker 3: we started to really begin to understand how much digital

77
00:05:20,640 --> 00:05:24,000
Speaker 3: news sites were beholden to the traffic coming from places

78
00:05:24,040 --> 00:05:29,120
Speaker 3: like Google Search and social media platforms like Facebook. But

79
00:05:29,160 --> 00:05:32,320
Speaker 3: then in terms of like the revenue perspective with advertising

80
00:05:32,320 --> 00:05:36,200
Speaker 3: and all of this stuff, the you quickly saw that

81
00:05:36,240 --> 00:05:38,760
Speaker 3: the economics of this was falling apart. And I think

82
00:05:38,800 --> 00:05:42,320
Speaker 3: that the advertisers were largely realizing that the roi of

83
00:05:42,800 --> 00:05:46,119
Speaker 3: having ads on some of these sites, you know, weren't

84
00:05:46,120 --> 00:05:48,920
Speaker 3: as competitive as what they're doing now, which is having

85
00:05:49,000 --> 00:05:52,799
Speaker 3: an influencer on TikTok, you know, hockeing products.

86
00:05:52,880 --> 00:05:55,760
Speaker 2: So we're going to work a way up to social media.

87
00:05:56,160 --> 00:05:59,919
Speaker 2: I want to track your career. So you start Business

88
00:06:00,080 --> 00:06:05,760
Speaker 2: Insider in the twenty twenty eleven Yahoo finances when twenty sixteen,

89
00:06:05,920 --> 00:06:10,240
Speaker 2: so five years later, and then Axios.

90
00:06:09,720 --> 00:06:12,479
Speaker 3: Twenty twenty one for a very brief period.

91
00:06:12,440 --> 00:06:16,120
Speaker 2: And then you launch your substack back in twenty twenty

92
00:06:16,120 --> 00:06:19,960
Speaker 2: two when substack was still kind of young. We hadn't

93
00:06:20,000 --> 00:06:24,039
Speaker 2: quite hit you know, peak substack yet. Sure what was

94
00:06:24,080 --> 00:06:27,719
Speaker 2: the motivation to say, you know what, I have to

95
00:06:27,720 --> 00:06:29,520
Speaker 2: take control of this and do it on my own.

96
00:06:29,800 --> 00:06:35,280
Speaker 3: I think, you know, being in management at Yahoo Finance

97
00:06:35,279 --> 00:06:37,160
Speaker 3: and getting a little bit of exposure to it at

98
00:06:37,200 --> 00:06:40,159
Speaker 3: Business Insider. For me, I think it was as simple

99
00:06:40,240 --> 00:06:43,200
Speaker 3: at it was. Two. There's two parts to this one.

100
00:06:43,360 --> 00:06:45,800
Speaker 3: If you can keep your costs low, then I think

101
00:06:45,880 --> 00:06:50,880
Speaker 3: you can have a media operation. And related to costs,

102
00:06:50,960 --> 00:06:54,640
Speaker 3: if you can be if you have an audience, and

103
00:06:54,680 --> 00:06:58,200
Speaker 3: if you are sort of very deliberate about how who

104
00:06:58,240 --> 00:07:00,600
Speaker 3: your audience is and how big that audience and get,

105
00:07:00,920 --> 00:07:02,880
Speaker 3: then you can have the revenue to cover that cost

106
00:07:02,880 --> 00:07:05,599
Speaker 3: and you can have a nice small business like like

107
00:07:05,640 --> 00:07:06,520
Speaker 3: what I'm doing now.

108
00:07:06,839 --> 00:07:11,320
Speaker 2: So Substack really inverted the traditional media model back in

109
00:07:11,840 --> 00:07:15,000
Speaker 2: when you have an office and a salary. They're the

110
00:07:15,000 --> 00:07:19,480
Speaker 2: ones who are who are building subscriptions, running ads, doing

111
00:07:19,520 --> 00:07:22,600
Speaker 2: the business side of it. Your job in a traditional

112
00:07:23,160 --> 00:07:27,520
Speaker 2: media business is to just create content. The inversion is

113
00:07:27,800 --> 00:07:32,440
Speaker 2: writers now earn money based on their subscriptions, which are

114
00:07:32,520 --> 00:07:37,040
Speaker 2: driven in part by their content, but also their marketing, savage,

115
00:07:37,080 --> 00:07:43,960
Speaker 2: their branding, their reputations. Is this new content model a

116
00:07:44,160 --> 00:07:45,440
Speaker 2: modern meritocracy?

117
00:07:46,360 --> 00:07:51,400
Speaker 3: I think increasingly. I'm not sure if I would characterize

118
00:07:51,400 --> 00:07:55,000
Speaker 3: it that way. You know, I think about you know,

119
00:07:55,040 --> 00:07:57,080
Speaker 3: I spend a lot of time on TikTok and Twitch

120
00:07:57,160 --> 00:07:59,840
Speaker 3: and watch you know, all the various streamers that have

121
00:08:00,040 --> 00:08:03,160
Speaker 3: found career success. And there are some people who get massive,

122
00:08:03,160 --> 00:08:05,960
Speaker 3: and there are some people who have very medium sized,

123
00:08:06,200 --> 00:08:10,400
Speaker 3: you know, moderate sized audiences. The analogy that I've been

124
00:08:10,480 --> 00:08:14,240
Speaker 3: using lately when it comes to how people or how

125
00:08:14,280 --> 00:08:18,160
Speaker 3: media has been working is the difference between publicly traded

126
00:08:18,200 --> 00:08:22,600
Speaker 3: fast food companies and your favorite restaurant that's run by

127
00:08:22,600 --> 00:08:26,800
Speaker 3: mom and pop around the corner. Right. It's possible to

128
00:08:26,880 --> 00:08:30,520
Speaker 3: have a really great restaurant with just one outlet, Right.

129
00:08:30,720 --> 00:08:32,920
Speaker 3: I think if you ask most people, if you ask

130
00:08:32,960 --> 00:08:35,480
Speaker 3: them what their favorite restaurant is, it's a privately owned

131
00:08:35,520 --> 00:08:38,880
Speaker 3: family business somewhere. Because the red sauce will never be

132
00:08:38,960 --> 00:08:42,839
Speaker 3: replicated by Olive Garden or whatever. That doesn't mean, you know,

133
00:08:43,000 --> 00:08:45,480
Speaker 3: Olive Garden and McDonald's and any of this stuff is bad,

134
00:08:45,520 --> 00:08:48,760
Speaker 3: But it's just the business strategy. The reach, the audience

135
00:08:48,760 --> 00:08:51,080
Speaker 3: that they're going for is going to be very different.

136
00:08:52,040 --> 00:08:55,880
Speaker 3: And so I think that there's probably a world where,

137
00:08:56,080 --> 00:08:59,800
Speaker 3: you know, these big mainstream media outlets and the independent

138
00:09:00,280 --> 00:09:06,360
Speaker 3: journalists can coexist. I think it only works because the

139
00:09:06,400 --> 00:09:10,640
Speaker 3: frictions and the costs and the barriers to entry to

140
00:09:10,840 --> 00:09:13,760
Speaker 3: becoming an independent writer has come down significantly.

141
00:09:14,080 --> 00:09:18,880
Speaker 2: Let me ask you a sort of abstract question about

142
00:09:19,280 --> 00:09:24,520
Speaker 2: about Google Search as a source for new readers or

143
00:09:24,600 --> 00:09:30,200
Speaker 2: new blog followers or whatever. Cory Doctor uses the phrase

144
00:09:30,400 --> 00:09:36,360
Speaker 2: platform crapification, and we've certainly seen that with Google. I

145
00:09:36,440 --> 00:09:40,400
Speaker 2: find myself using Google far much less. The whole genius

146
00:09:40,480 --> 00:09:43,960
Speaker 2: of page ranks seems to have gone away. I don't

147
00:09:43,960 --> 00:09:47,000
Speaker 2: want their AI answer. I have perplexity on my phone.

148
00:09:47,040 --> 00:09:49,080
Speaker 2: I don't need them. If I want an AI answer,

149
00:09:49,120 --> 00:09:51,440
Speaker 2: I know exactly how to get it. What I want

150
00:09:51,520 --> 00:09:56,280
Speaker 2: is show me the top thirty fifty one hundred sites

151
00:09:56,320 --> 00:10:00,880
Speaker 2: that have this phrase or this topic, and I just

152
00:10:00,960 --> 00:10:03,480
Speaker 2: don't get that anymore, just fiston with so much garbage.

153
00:10:03,760 --> 00:10:08,199
Speaker 2: So the question I want to ask you is has

154
00:10:08,880 --> 00:10:11,440
Speaker 2: the slow I guess it's too early to call the

155
00:10:11,520 --> 00:10:16,480
Speaker 2: death of Google, but has the crapification of Google harmed

156
00:10:17,160 --> 00:10:19,559
Speaker 2: writers who are looking for an audience or are people

157
00:10:19,640 --> 00:10:22,760
Speaker 2: no longer relying on it? And word of mouth is

158
00:10:22,800 --> 00:10:24,160
Speaker 2: helping people looking from it? Yeah?

159
00:10:24,200 --> 00:10:27,360
Speaker 3: I would actually say it's probably helped. Really, I think

160
00:10:27,440 --> 00:10:32,040
Speaker 3: it's made it's it's hurt the large media companies significantly.

161
00:10:32,280 --> 00:10:34,959
Speaker 3: I think Wall Street Journal had an article, fabulous article

162
00:10:34,960 --> 00:10:38,560
Speaker 3: about this in terms of how much search traffic digital

163
00:10:38,559 --> 00:10:41,200
Speaker 3: media sites we're getting from from Google, and it's all shrink.

164
00:10:41,440 --> 00:10:42,320
Speaker 3: It has been shrinking.

165
00:10:42,360 --> 00:10:43,640
Speaker 2: It's collapsed, collapsed.

166
00:10:43,720 --> 00:10:48,160
Speaker 3: Yeah, it's a nightmare. But that also means if people

167
00:10:48,240 --> 00:10:52,480
Speaker 3: are spending less time being drawn to these mega properties,

168
00:10:52,520 --> 00:10:54,600
Speaker 3: well where are they going for their news and their information?

169
00:10:54,960 --> 00:10:57,920
Speaker 3: And maybe they're you know, gravitating toward you know, something

170
00:10:57,960 --> 00:11:00,640
Speaker 3: like a newsletter that they signed up because you know,

171
00:11:00,679 --> 00:11:02,760
Speaker 3: one of their friends shared something and they saw something

172
00:11:02,800 --> 00:11:03,320
Speaker 3: good here.

173
00:11:03,400 --> 00:11:07,240
Speaker 2: So so Google SEO is not a job anyone should

174
00:11:07,280 --> 00:11:12,520
Speaker 2: be thinking about that. That was a real job, certainly

175
00:11:12,559 --> 00:11:15,400
Speaker 2: since the nineties and two thousands. Yeah, hey, if you

176
00:11:15,520 --> 00:11:19,480
Speaker 2: can optimize for Google Search, here's a fire hose of traffic.

177
00:11:19,640 --> 00:11:21,480
Speaker 2: Just hope they never changed their algorithm.

178
00:11:21,679 --> 00:11:24,320
Speaker 3: Yeah, I mean, I think, I think passively. I try

179
00:11:24,400 --> 00:11:28,120
Speaker 3: to be conscious of things that help improve the SEO

180
00:11:28,200 --> 00:11:30,520
Speaker 3: of anything I publish. But I'm not going to lose

181
00:11:30,559 --> 00:11:33,080
Speaker 3: sleep over it because you know, I might get a

182
00:11:33,080 --> 00:11:33,920
Speaker 3: couple more clicks.

183
00:11:34,040 --> 00:11:36,760
Speaker 2: It's so diminished today from from what it once was.

184
00:11:36,840 --> 00:11:40,520
Speaker 2: So what's been the most surprising part of this transition

185
00:11:40,679 --> 00:11:43,920
Speaker 2: to you know, hanging out your own newsletter? What's been

186
00:11:43,960 --> 00:11:44,960
Speaker 2: the most difficult part?

187
00:11:46,120 --> 00:11:48,840
Speaker 3: The most difficult part, you know, I you know, it

188
00:11:48,920 --> 00:11:52,240
Speaker 3: is very easy. All of the other resources you get

189
00:11:52,280 --> 00:11:55,679
Speaker 3: from working at a large company. You realize you took

190
00:11:55,720 --> 00:11:59,920
Speaker 3: all that stuff for granted, having access to really great

191
00:12:00,040 --> 00:12:04,120
Speaker 3: healthcare for a very cheap price. That's number one too.

192
00:12:04,480 --> 00:12:07,680
Speaker 3: When you have tech issues, you're not on the phone,

193
00:12:08,559 --> 00:12:10,480
Speaker 3: you know, when you're when you're employed by someone, you're

194
00:12:10,480 --> 00:12:13,280
Speaker 3: not the one on the phone with Verizon. Someone else

195
00:12:13,360 --> 00:12:14,280
Speaker 3: is taking care of that and.

196
00:12:14,200 --> 00:12:16,120
Speaker 2: You're here today coast your Verizon modem.

197
00:12:16,440 --> 00:12:19,600
Speaker 3: Yeah, that that's the whole other, uh nightmare but but yeah,

198
00:12:19,760 --> 00:12:22,200
Speaker 3: all that stuff like you know, the ac doesn't work

199
00:12:22,240 --> 00:12:25,120
Speaker 3: in my apartment, you know who's paying for the snacks

200
00:12:25,120 --> 00:12:27,240
Speaker 3: and all this kind of stuff, and then you know

201
00:12:27,280 --> 00:12:29,240
Speaker 3: there are there are other things that are you know,

202
00:12:30,520 --> 00:12:34,319
Speaker 3: intangible value that that I really do miss about working

203
00:12:34,320 --> 00:12:36,440
Speaker 3: at at larger media companies, which is being surrounded by

204
00:12:36,480 --> 00:12:39,680
Speaker 3: people who are passionate about what they're doing. They're curious.

205
00:12:39,800 --> 00:12:42,800
Speaker 3: You can bounce ideas off and have something you know,

206
00:12:43,200 --> 00:12:46,920
Speaker 3: crushed or really developed, you know, in a room with

207
00:12:46,920 --> 00:12:50,640
Speaker 3: with with with people. So I think, you know, it's

208
00:12:50,679 --> 00:12:53,240
Speaker 3: a trade off though. The other thing being that as

209
00:12:53,280 --> 00:12:56,800
Speaker 3: an independent writer, I'm not in nearly as many meetings

210
00:12:56,800 --> 00:12:57,400
Speaker 3: as I used to.

211
00:12:58,200 --> 00:13:00,880
Speaker 2: You're not wasting as much time. So so final question,

212
00:13:01,480 --> 00:13:04,760
Speaker 2: someone thinking about a career change, thinking about hanging their

213
00:13:04,760 --> 00:13:08,240
Speaker 2: own jingle, what's the most important lesson you can impart

214
00:13:08,280 --> 00:13:08,920
Speaker 2: to those people?

215
00:13:09,320 --> 00:13:11,679
Speaker 3: You just have to go out and give it a shot.

216
00:13:12,320 --> 00:13:15,280
Speaker 3: It doesn't cost anything to start a website or a

217
00:13:15,320 --> 00:13:17,880
Speaker 3: blog on any of these newsletters, especially if you start

218
00:13:17,920 --> 00:13:21,520
Speaker 3: off free, and you know, if you might actually find

219
00:13:21,559 --> 00:13:24,480
Speaker 3: you have a passion for writing. Some people think that

220
00:13:24,520 --> 00:13:25,960
Speaker 3: they want to be a writer, they give it a shot.

221
00:13:26,000 --> 00:13:27,600
Speaker 3: They find out that they don't want to be a writer.

222
00:13:27,720 --> 00:13:29,319
Speaker 2: It's a lonely grind, it can be.

223
00:13:29,280 --> 00:13:31,880
Speaker 3: It can be very lonely. And then some people find

224
00:13:31,880 --> 00:13:34,559
Speaker 3: that it's therapeutic or it's a way to keep themselves organized.

225
00:13:34,720 --> 00:13:36,480
Speaker 3: You know. I've actually talked to a couple of financial

226
00:13:36,520 --> 00:13:40,040
Speaker 3: advisors who have started newsletters for no other reason than

227
00:13:40,080 --> 00:13:43,040
Speaker 3: to help them keep themselves organized, and have found an

228
00:13:43,080 --> 00:13:45,800
Speaker 3: audience for this because what they're doing for themselves is

229
00:13:45,800 --> 00:13:49,400
Speaker 3: actually benefiting someone else. Huhh. I think it's just worth

230
00:13:49,400 --> 00:13:50,319
Speaker 3: giving it a shot.

231
00:13:50,559 --> 00:13:54,240
Speaker 2: So to wrap up, if you're thinking about changing careers,

232
00:13:54,559 --> 00:13:58,200
Speaker 2: you should be paying attention to technology, what it's doing

233
00:13:58,280 --> 00:14:03,920
Speaker 2: to your field's revenue and profit models. Understand how technology

234
00:14:04,040 --> 00:14:08,360
Speaker 2: is changing the way business is being done. It's usually

235
00:14:08,400 --> 00:14:13,080
Speaker 2: better to jump than to be pushed. I'm Barry Redults.

236
00:14:13,160 --> 00:14:20,800
Speaker 2: This is Bloomberg's at the Money